Medtronic PLC $MDT Shares Sold by M&G PLC

M&G PLC lessened its stake in shares of Medtronic PLC (NYSE:MDT) by 4.8% during the third quarter, HoldingsChannel reports. The firm owned 3,716,148 shares of the medical technology company’s stock after selling 185,546 shares during the period. Medtronic accounts for 1.6% of M&G PLC’s portfolio, making the stock its 11th largest position. M&G PLC’s holdings in Medtronic were worth $319,589,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. AlphaCore Capital LLC boosted its stake in shares of Medtronic by 19.9% in the third quarter. AlphaCore Capital LLC now owns 25,330 shares of the medical technology company’s stock valued at $2,204,000 after purchasing an additional 4,204 shares during the period. Clear Wave Wealth Management LLC increased its stake in Medtronic by 10.1% during the 3rd quarter. Clear Wave Wealth Management LLC now owns 3,903 shares of the medical technology company’s stock worth $337,000 after buying an additional 359 shares during the period. Burton Enright Welch acquired a new position in Medtronic in the 3rd quarter worth $274,000. Avion Wealth lifted its holdings in Medtronic by 97.8% in the 3rd quarter. Avion Wealth now owns 362 shares of the medical technology company’s stock worth $31,000 after buying an additional 179 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. boosted its position in Medtronic by 107.5% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 1,027 shares of the medical technology company’s stock valued at $89,000 after buying an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the subject of several recent analyst reports. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Wednesday, October 14th. BTIG Research cut their price target on Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Robert W. Baird lifted their price objective on Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Finally, Stifel Nicolaus upped their target price on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Trading Up 0.9%

Medtronic stock opened at $102.73 on Tuesday. Medtronic PLC has a 1 year low of $73.31 and a 1 year high of $106.33. The firm’s 50-day moving average is $92.93 and its 200-day moving average is $88.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. The company has a market cap of $131.41 billion, a P/E ratio of 25.30, a PEG ratio of 2.46 and a beta of 0.56.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities analysts expect that Medtronic PLC will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. Medtronic’s dividend payout ratio is 70.94%.

Insider Transactions at Medtronic

In related news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the transaction, the executive vice president owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Marinaro sold 10,420 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the transaction, the executive vice president owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. The trade was a 8.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by company insiders.

About Medtronic

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products.

The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.